Covered Institutions

Britain’s National Crime Agency (NCA) has charged shipping financier John Michael Ormerod with alleged money laundering and breaches of Russia sanctions.

Fraud appears to be worsening in the UK’s insurance sector, driven in large part by the submission of phony claims backed by AI-altered images. 

New details about the allegations against the rapper Gims have emerged after French authorities charged the Congolese music star with money laundering linked to millions of euros in suspicious transactions.

The U.S. Treasury imposed a fresh round of Iran-related sanctions on Wednesday, targeting what it described as the illicit oil-shipping empire of Iranian magnate Mohammad Hossein Shamkhani and a Hezbollah-linked oil-for-gold laundering network tied to Venezuela. 

Telegram is still hosting Xinbi Guarantee, a Chinese-language black market that British officials have levied sanctions on and accused of facilitating crypto scams and human trafficking.

Britain’s Financial Conduct Authority has launched a consultation on guidance for the UK’s future crypto regime, as the regulator moves toward opening authorizations for crypto firms later this year. 

The U.S. Treasury Department is shutting down a program that shared cybersecurity threat intelligence with banks and other financial firms after cutting its funding.

Treasury Secretary Scott Bessent said an executive order that would require banks to collect proof of citizenship from customers is “in process,” Bloomberg reported, describing a potentially sweeping new compliance mandate for U.S. financial institutions.

U.S. lawyers are increasingly warning clients not to treat artificial-intelligence chatbots as confidential sounding boards after a federal judge in New York ruled that a former financial-services executive could not withhold chatbot-generated materials from prosecutors in a securities-fraud case.

The organizer of New York City’s annual SantaCon bar crawl was arrested on wire-fraud charges on Wednesday after federal prosecutors alleged he diverted money that was supposed to go to charity and used it instead for personal expenses.